SOLUTION: Assume the following data is the list of the gross amount (in millions) for movies in a given year. Construct a 95% confidence interval if the standard deviation of the gross amoun

Algebra ->  Probability-and-statistics -> SOLUTION: Assume the following data is the list of the gross amount (in millions) for movies in a given year. Construct a 95% confidence interval if the standard deviation of the gross amoun      Log On


   

Question 823416: Assume the following data is the list of the gross amount (in millions) for movies in a given year. Construct a 95% confidence interval if the standard deviation of the gross amount is 100 million dollars.
The gross amount of movies is 4305 (in millions) there are 35 numbers added to reach this number.
Found 2 solutions by ewatrrr, stanbon:
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

Assume the following data is the list of the gross amount (in millions) for movies in a given year. 

Construct a 95% confidence interval if the standard deviation of the gross amount is 100 million dollars.						

The gross amount of movies is 4305 (in millions) there are 35 numbers added to reach this number. 

mu = 4305M/35 = 123M	

ME =+%281.96%29%28100M%29%2Fsqrt%2835%29%29

  123M - ME < mu < 15.5 + 123M

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Assume the following data is the list of the gross amount (in millions) for movies in a given year. Construct a 95% confidence interval if the standard deviation of the gross amount is 100 million dollars.
The gross amount of movies is 4305 (in millions) there are 35 numbers added to reach this number.
------------------
x-bar = 4305 million
----
ME = 1.96*100 mil/sqrt(35) = 33.13
-----
95% CI: 4305-33.13 < u < 4305+33.13
95% CI: 4317.87 < u < 4338.13
=================================
Cheers,
Stan H.
===========